Jiangling Motors builds first-class commercial vehicle base in Asia Pacific

The new generation of Ford Transit rolled off the production line at Jiangling Quanshun Plant in Nanchang, marking a significant milestone for JMC. During the launch event, Chairman Wang Xigao of Jiangling Motors stated that the company aims to build a top-tier automotive manufacturing base in the Asia-Pacific region within five years, with an expanded production capacity of 150,000 units annually. Since its introduction into China in 1997, the Ford Transit has experienced rapid growth, maintaining an annual growth rate of over 30%. It has become a key player in the high-end light passenger vehicle market and has been the top performer in sales growth for a decade. The new model was developed by a joint team from both Jiangling and Ford in just 20 months, undergoing 2 million kilometers of localized testing and establishing a new product development process. In addition to the new Ford Transit, the V348 is one of JMC’s most anticipated models. Chen Yuanqing noted that V348 represents a major leap forward for the company and highlights the strong collaboration between JMC and Ford. The project involved an investment of over 9 billion yuan, and the V348 is currently a leading European light commercial vehicle, having won the "European Commercial Vehicle Award" and other accolades. With its strong market position, JMC plans to use V348 as a platform to develop a range of high-end commercial vehicles, making it a crucial step in its five-year product strategy. This year, after three years of effort, JMC successfully entered the Russian commercial vehicle market. In the fourth quarter, the company will host a global meeting with over 100 agents to further strengthen its overseas presence and expand its distribution network. Over the past decade, JMC has maintained an average annual sales growth of 37%. According to the company's mid-year report in 2007, it sold 45,728 vehicles and achieved a net profit of 402 million yuan, ranking among the top three listed auto companies in China. Industry sources indicate that China is currently experiencing a golden age for commercial vehicle growth. As one of the fastest-growing and most profitable markets globally, China's total auto sales reached 4.37 million units in the first half of the year, up 23% year-on-year. Commercial vehicle sales rose 26%, reaching 1.29 million units, outpacing passenger car growth. This trend shows strong demand and potential for continued expansion. Chen Yuanqing, President of Jiangling Co., Ltd., emphasized that JMC aims to become a world-class automobile manufacturer with commercial vehicles at its core. Rather than focusing solely on scale, the company is committed to producing high-quality commercial vehicles. By building the most competitive commercial vehicle base in the region, JMC hopes to establish China as a key player in the global commercial vehicle market. Currently, the Asian commercial vehicle market accounts for about 50% of global sales. Led by China, India, and South Korea, the region has surpassed the U.S. and Europe in both production and sales, becoming the main driver of growth. By 2013, Asia is expected to be the largest market for heavy and light commercial vehicles worldwide.

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